Program Overview

Shrinking bottom lines and declining profit margins have made it imperative for organisations to manage costs. Organisations are aggressively looking for opportunities to minimize costs without impacting the product/ service quality or market positioning. Those who opted for focused cost reduction strategies have survived and those who did not manage well have perished. In the recent economic downturn it becomes important to make cost reduction program a major initiative in the industry.

This programme offers a unique approach for managing costs by improving visibility over product cost structures and business processes. It will equip you with the tools for improving productivity and efficiency to enhance the profitability and cash flow of your organisation.

Learning Outcome

Understand the rationale required for a Cost reduction strategy

Identification of cost reduction and business improvement opportunities

Better reporting and ownership of costs

Greater awareness and control of everyday costs

Objectively identify and evaluate all existing costs

Prioritize the cost reduction efforts on high-return opportunities

Implement and sustain a cost reduction program

Fundamentally reduce cost through process improvement

Help in the organization’s cost savings plan

Identify key issues that is affecting their business / operations

Saving Cost through across all Functions of the Organization

Develop action plans to analyze, implement and monitor the results

Program Outline

Module 1: Why Cost Reduction

Module 2: Cost Measurement and Analysis

Module 3: Sales & Marketing Cost Management and Improvement Strategies

Module 4: Procurement Cost Management and Improvement Strategies

Module 5: Inventory Cost Management and Improvement Strategies

Module 6: Operating Expenses Management and Improvement Strategies

Module 7: Building a Cost Reduction Culture

Course Summary – Developing your Action Plan

Who Should Attend

This program will benefit all executives, supervisors, engineers, managers, and those who have been assigned to improve productivity and reduce cost for the organization, and for those who wish to improve their understanding and skills in relation to managing cost.

Methodology

This stimulating program will maximize understanding and learning through Interactive Lectures, Course notes, Videos and Learning Assessments.